It's been almost two years since I checked in on this topic. Back then India talked about banning what they called "private cryptos" as they launched a futures ETF for BTC and ETH (?)
But they are back, with a vengeance it seems as Indian crypto users reported to be missing Binance, Kucoin and numerous other crypto exchange apps from the Apple store yesterday.
Even though I've never been there I truly do like India, hopefully some day I'll get a chance to visit. It is the only country on earth where lions and tigers live in the same national (read man made) borders. Not that animals themselves care nor understand borders, the point is that for a country with over 1 billion people India has made truly amazing achievements regarding conserving and helping their nature and all its creatures, as dangerous as some might be.
So W India on that, it can't be easy to maintain such a balance yet they sure did an amazing job at it. Their crypto actions though are rather disappointing to say the least.
"OKX, another prominent offshore cryptocurrency exchange, has also been removed from the Apple India app store even though it wasn’t sent a show cause notice." LOL even New Delhi doesn't take OKX serious.😂 See, this is why I like you India, even when doing something wrong, you still do it right.
"Binance, KuCoin, Huobi, Kraken, Gate.io, Bittrex, Bitstamp, MEXC Global and Bitfinex are the nine exchanges that were sent notices...The government also took the first steps to block the URLs of said entities that are operating illegally without complying. However, that process requires extensive paperwork and is still ongoing."
So yeah that doesn't sound too promising. Looks like our Indian friends will have to get creative and extra careful in trading/hodling their coins. If only they at least offered their citizens an alternative like how Hong Kong now offers Hashkey. Sure, it has a very small selection of coins but at least every HK citizen can both access cryptos and use it knowing it has no legal issues. So this banning crypto exchanges is a real 🐎💩 move there India. If your citizens want to hodl some crypto, they should be able to. You can allow that and ban dubious/untrustworthy CEXes without completely cutting citizens off. Especially since this complete banning India is trying to do is beyond ridiculous and quite impossible to achieve.
Anyways since we got our India topic going, can't close this off without mentioning Bollywood. When I was little I genuinely though all Indian movies were 2 hour musicals. Gawd how I hated it, but honestly since I saw my first good Indian movie I can't stop searching for similar ones. It's supposed to be a comedy, well, it's about an alien who gets stuck on earth and is looking for god to help him get back home, so I guess it can't be anything other than a comedy but it really has so much more going on. It's called PK (2014) and even though it still does have some of those tiresome singing scenes, the hidden message about life, religion and corrupt people is put together in such a way I almost want to call it a masterpiece.
